Racine Area Manufacturers And Commerce Inc is located in Racine, WI. The organization was established in 1982. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 02/2024, Racine Area Manufacturers And Commerce Inc employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racine Area Manufacturers And Commerce Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 02/2024, Racine Area Manufacturers And Commerce Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $2.6m during the year ending 02/2024. While expenses have increased by 11.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
RACINE'S BUSINESS CHAMPION - TO PROMOTE THE FURTHER DEVELOPMENT OF THE RACINE BUSINESS COMMUNITY AND BE THE VOICE OF THE BUSINESS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC POLICY - PROMOTE ISSUES IMPORTANT TO THE BUSINESS COMMUNITY; ASSIST MEMBER BUSINESSES WITH PUBLIC POLICY CHALLENGES.
TALENT DEVELOPMENT - OFFER RELEVANT AND APPLICABLE TRAINING PROGRAMS ON VARIOUS LEVELS FOR MEMBER BUSINESSES WORKFORCE.
BUSINESS DEVELOPMENT - PROVIDE MEMBER-TO-MEMBER MARKETING OPPORTUNITIES; FACILITATE COMMITTEES, ROUNDTABLES AND COMMUNITY DEVELOPMENT ACTIVITIES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mark Behrens Chair | OfficerTrustee | 1 | $0 |
Scott Hess Vice Chair/finanace Chair | OfficerTrustee | 1 | $0 |
Jody Muniz Public Policy Chair | OfficerTrustee | 1 | $0 |
Ryan Brath Comar Chair | OfficerTrustee | 1 | $0 |
Kristen Beglinger Director | Trustee | 1 | $0 |
Donna Owens Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $55,214 |
Related organizations | $0 |
Government grants | $1,990,490 |
All other contributions, gifts, grants, and similar amounts not included above | $11,685 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,057,389 |
Total Program Service Revenue | $540,982 |
Investment income | $20,159 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $12,457 |
Net Income from Gaming Activities | $2,920 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,657,510 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $156,207 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,608,293 |
Pension plan accruals and contributions | $37,552 |
Other employee benefits | $135,725 |
Payroll taxes | $147,556 |
Fees for services: Management | $0 |
Fees for services: Legal | $113 |
Fees for services: Accounting | $65,788 |
Fees for services: Lobbying | $375 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $122,549 |
Advertising and promotion | $5,695 |
Office expenses | $34,017 |
Information technology | $34,341 |
Royalties | $0 |
Occupancy | $34,372 |
Travel | $8,670 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $2,176 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $18,346 |
Insurance | $5,106 |
All other expenses | $26,843 |
Total functional expenses | $2,568,812 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $142,163 |
Savings and temporary cash investments | $640,751 |
Pledges and grants receivable | $145,155 |
Accounts receivable, net | $106,217 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $2,489 |
Prepaid expenses and deferred charges | $24,612 |
Net Land, buildings, and equipment | $98,422 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $23,331 |
Total assets | $1,183,140 |
Accounts payable and accrued expenses | $125,487 |
Grants payable | $0 |
Deferred revenue | $185,524 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $8,739 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $319,750 |
Net assets without donor restrictions | $846,512 |
Net assets with donor restrictions | $16,878 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $1,183,140 |